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Jan 24 2021 Bicameral committee may be hard-pressed to meet deadline for key tax bill
THE bicameral session on a key tax reform bill continues to be subject to negotiations by the delegations sent by both chambers of Congress, with a key legislator suggesting that both chambers may be hard-pressed to meet a self-imposed January deadline for approving it.
Representative Jose María Clemente S. Salceda said in a message to BusinessWorld Sunday that…
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Jan 24 2021 NEDA board approves updated economic blueprint for next 2 years
THE NATIONAL Economic and Development Authority (NEDA) board, chaired by President Rodrigo R. Duterte, has approved the country’s medium-term economic development blueprint which was updated to consider the impact of the coronavirus disease 2019 (COVID-19) pandemic.
“The Updated Philippine Development Plan (PDP) has been approved by the NEDA board on Jan. 7, after the majority of…
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Jan 23 2021 BSP seen unlikely to touch rates this year
The Philippine central bank would probably pause monetary easing this year until previous rate cuts lead to substantial credit growth, according to Standard Chartered Bank.
The Bangko Sentral ng Pilipinas is likely to bring down banks’ reserve requirements further instead to boost liquidity, Chidu Narayanan, an economist at the foreign bank, told an online news briefing…
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Jan 23 2021 BSP sees benign inflation until 2022
INFLATION is expected to stay within the target range over the next two years, despite a recent uptick in global oil prices as well as food prices due to supply disruptions caused by typhoons, the central bank said.
“We do not have soaring prices so there’s no stagflation happening and we do not think that’s really…
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Jan 23 2021 Bank’s confidence in handling cyber-threats declines in 2020“
LOCAL banks’ confidence in handling cyber financial threats slightly declined in 2020 as digital payments surged in the midst of lockdowns and movement restrictions to curb the pandemic.
A recent Bangko Sentral ng Pilipinas (BSP) survey showed that only 58.3 percent of banks are “prepared” to handle and manage cyber security threats (cyber-threats). This is lower…
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Jan 21 2021 SquidPay taps MultiSys to upgrade digital platforms
Fastest-growing payment solutions provider SquidPay has tapped leading software solutions company Multisys Technologies Corporation to upgrade its existing system platforms.
SquidPay is a major shareholder of Premiere Horizon Alliance Corporation—one of the top gainers in share price among the publicly-companies in the local bourse—holding 55 percent stake in the investment holding company.
Through the partnership, MultiSys will…
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Jan 21 2021 Banks maintain stricter lending standards
MOST BANKS maintained strict lending standards last quarter and expect to continue to do so in the coming months due to sustained worries amid the pandemic, even as some economic indicators show signs of improvement, a survey by the Bangko Sentral ng Pilipinas (BSP) released Thursday showed.
The latest Senior Bank Loan Officers’ Survey released by…
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Jan 21 2021 PH leading multi-channel payment platform provider ‘Bayad Center’ levels up, rebrands as ‘Bayad’
The country’s pioneer and most trusted payment solution provider Bayad Center has rebranded with a new brand identity, logo, and tagline as it connects with the new generation of payers, expands its digital footprint, and further contributes to the advancement of the country’s finance sector.Now known as Bayad, the rebranding aims to elevate the payment…
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Jan 21 2021 Smaller banks may face threat from new fintech mart entrants
FINANCIAL PLAYERS backed by large firms or with an established presence looking to enter the Philippine market are expected to thrive and could pose a threat to more traditional smaller lenders here, a debt watcher said.
“We believe that aspiring entrants that already have extensive customer base or are backed by corporates with strong firepower would…
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Jan 21 2021 Longer PHL recovery from ’corona coma’
THE Philippines’s recovery from its “corona coma” could take longer, as the economy will likely post a growth of around 3 percent to 4 percent this year, according to the Ateneo Center for Economic Research and Development (Acerd).
In the Ateneo Eagle Watch forum “Preparing Your Business and Institution in Prioritizing for Recovery,” Acerd Senior Fellow…